MARKET WRAP: Fed’s taper plan proves positive for the rand
US central bank’s signal that it isn’t in a hurry to hike rates bolsters currencies in emerging markets because they offer relatively higher returns for offshore investors
04 November 2021 – 19:03
The rand held steady on Thursday, firming for a second day as investors welcomed the US Federal Reserve’s policy decision.
The Fed will from November begin scaling down its monthly asset purchases by $15bn, as expected, though the tapering does not mean policymakers will hike rates soon…
Source: businesslive.co.za